House price growth stalled in June according to new figures from property analyst Hometrack. New buyer registrations were 0.5 per cent lower in June, the first time they have fallen on a month-on-month basis, for the past five months. Supply continued to increase, causing prices to fall even further. The only place which saw an [...]
Land Registry figures confirm that house prices fell last month, after surveys by the Halifax, Nationwide and the Royal Institution of Chartered Surveyors all reported a decline. The Land Registry said that the price of houses in England and Wales fell by 0.3% in April, with the average house price falling to £160,417. The decline [...]
The average price of a house in England and Wales fell by 0.6 per cent to £160,372 in March according to new Land Registry figures. However, there were wide regional variations with prices falling by 1.8 per cent in London and 4.1 per cent in Wales, but increasing by 5.6 per cent in the North [...]
The number of £2m-plus homes sold in England and Wales fell to 103 in December 2011, 18 per cent lower than the figure for December 2010. Eighty of the £2m-plus properties sold during the month were located in London, where prices have been rising faster than in other parts of the UK. The most popular [...]
The latest figures from the Land Registry show that house prices fell by 1.3 per cent in England and Wales in 2011, with the average property costing £160,384 in December. Prices remained stable at the end of the year, with no change between November and December 2011. The only place in England and Wales where [...]
The latest house price figures from Nationwide Building Society contradict yesterday’s news from the Land Registry that house prices have fallen over the past year. Nationwide today said that house prices are ‘surprisingly resilient’ with November’s figures showing a year-on-year increase of 1.6%. In contrast the latest Land Registry figures showed a 3.2 per cent [...]
House prices fell at a faster rate in October than they did in the previous month, according to Land Registry figures, with the average house price dropping to £160,000. The house price index fell 3.2 per cent in October, compared with a 2.6 per cent fall in September. Although house prices in London fell by [...]
According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles [...]
According to the Land Registry, house prices rose by 1.3% in July compared with June, putting the average cost of a home at £163,049 in England and Wales. On an annual basis, the Registry said prices are 2.1% lower. It must be noted that the Land Registry compiles its data from completed transactions and therefore [...]
According to the Land Registry, house prices rose by 0.8% in April compared with March, putting the average cost of a home at £163,083 in England and Wales. Last month’s rise represented the first since January. On an annual basis, the Registry said prices are 1.3% lower. It must be noted that the Land Registry [...]
Latest figures from the Land Registry show house prices in England and Wales falling by 1.1% in March, marking the largest monthly decline seen since February 2009. The only region to experience a monthly rise was the North West, with an upward movement of 0.7%, while in Wales house prices tumbled by 3.3%, compared with [...]
According to the Land Registry, house prices fell by 0.8% in February compared with January, putting the average cost of a home at £162,215 in England and Wales. However, on an annual basis, the Registry said prices fell by 1.7% in February. It must be noted that the Land Registry compiles its data from completed [...]
According to the Land Registry, house prices rose by 0.2% in January compared with December, putting the average cost of a home at £163,177 in England and Wales. However, on an annual basis, the Registry said prices fell 0.9% in January - the first negative reading since October 2009. It must be noted that the [...]
According to the Land Registry, house prices fell by 0.2% in December compared with November, putting the average cost of a home at £163,814 in England and Wales. The Registry said house prices are now just 1.5% higher than a year ago. It must be noted that the Land Registry compiles its data from completed [...]
National Statistician Jil Matheson is recommending a single headline measure of house prices be introduced. Ms Matheson, the Government’s chief adviser on official statistics, conducted a review into official housing data following concerns from people who monitor house prices from various indices. Currently, there are two official house price indexes, one published by the Land [...]
According to the Land Registry, house prices fell by 0.8% in October compared with September, putting the average cost of a home at £165,505 in England and Wales. It must be noted that the Land Registry compiles its data from completed transactions and therefore lags behind other monitors of the housing market but is generally [...]
The Land Registry has reported annual house price growth of 5.2% across England and Wales in September, marking the eleventh consecutive month in which annual property price inflation has remained above zero. However, the value of the typical home was at its lowest since December 2009 and the monthly change of -0.2% was the first [...]
The Land Registry’s latest house price index shows the average cost of a home in England and Wales rising by 0.3% in August. Having seen the fifth consecutive monthly increase, the value of the average home stood at £167,423, although on an annual basis the typical house price gain fell slightly compared with July, to [...]
The Land Registry has reported that house prices in England and Wales increased by 0.4% in July, with growth at its strongest since the start of the year. The rise took the average value of a home to £166,798 but left annual growth at 6.7%, down from 8.4% in June. Data for London show monthly [...]
New figures from the Land Registry show house prices in England and Wales back to summer 2006 levels, having risen by 0.1% in June, compared with May. Last month, the typical home sported an annual gain of 8.4%, taking the average house price to £166,072. All ten regions of England and Wales experienced annual rises, [...]
Co-operative Bank bans sales incentives
The Co-operative Bank has banned sales incentives for its branch staff and replaced them with an incentive system which rewards good customer service with bonuses of up to £400 per quarter. Around 3 per cent of branch staff were offered incentives to sell products. The Co-op plans to introduce the new customer service incentive scheme [...]
UK out of recession economic research institute claims
The UK economy returned to growth in the third quarter according to the National Institute of Economic and Social Research (NIESR), marking an end to the double dip recession. The NIESR estimates that GDP grew by 0.8 per cent in the three months ending in September, building on an improvement seen in the three months [...]
Pick up in UK house sales expected
House sales in the UK are expected to improve in the next three months, helped by the government’s funding for lending scheme, according to the Royal Institution of Chartered Surveyors (RICS). The Funding for Lending scheme, launched by the government and the Bank of England, makes £80bn of lower cost funding available to lenders to [...]
Barclays expands through ING Direct acquisition
Barclays is acquiring the UK operations of Dutch banking and insurance group ING Direct. Barclays will take on ING UK’s £10.9bn of deposits and its £5.6bn mortgage book, as well as 750 employees and 1.5 million customers. ING, which has its UK headquarters in Reading, is divesting its UK assets to help raise funds to [...]
Frodo Financial launches overdraft service
Frodo Financial, a new financial technology company, has launched an online overdraft system which provides an alternative to a bank overdraft. The new Frodo Flexi account provides a rolling cash-credit facility of between £1,000 and £10,000 that runs alongside a customer’s current account with their existing bank. It offers a 16.9% APR variable interest rate [...]
Security concerns over NatWest mobile banking app
NatWest bank has suspended its Get Cash app which allows customers to withdraw money from a cash machine without a debit card, according to a report by the BBC. Customers request the cash on their mobile and a 6 digit pin is generated which they then enter at the cash money to withdraw funds. However, [...]
UK consumer spending higher in September
Consumer spending increased by 3 per cent in September compared with August, as people spent more on clothes and in hotels and restaurants. The figures, from Visa Europe’s UK expenditure index which is compiled by Markit, represent the biggest increase since May 2009. The increased spending follows improvements in the job market which have boosted [...]
HSBC to close UK Islamic banking operations
HSBC Holdings is planning to stop offering Islamic financial services in the UK as part of a global restructuring strategy which will see non-core businesses shut down. Along with the UK, it is closing its Islamic banking operations in United Arab Emirates, Bahrain, Bangladesh, Singapore and Mauritius. HSBC will offer Islamic banking only in Malaysia, [...]
Nationwide stops offering interest-only mortgages
From 11 October new borrowers will no longer be able to take out an interest-only mortgage with Nationwide building society. Nationwide is following the Co-op bank, which pulled out of interest-only mortgages in May, while Santander and HSBC only offer this type of product to house-buyers with a 50 per cent deposit. Nationwide also previously [...]
PayPal resolves technical glitch
PayPal, the internet-based money transfer service, has resolved the technical issues that delayed transactions for UK customers. The problem started on 29 September when a new system was introduced to speed up transactions. Unfortunately it had the opposite effect, with large numbers of transactions being sent for security checks, causing substantial delays in funds being [...]
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